Bolivia’s election. Centrist Senator Rodrigo Paz and right-wing former President Jorge Quiroga led the first round of Bolivia’s presidential election and will proceed to an October runoff, according to official early results. The vote marked a shift from almost twenty years of political dominance by the leftist Movement Toward Socialism party. It occurs as Bolivia is experiencing its worst economic crisis in decades.
Protests in Israel. Hundreds of thousands of people demonstrated in Tel Aviv and across the country yesterday calling for the return of Israeli hostages still held in Gaza and an end to the war. It was one of the largest protests in Israel since the war began. Prime Minister Benjamin Netanyahu said the demonstrations only “harden Hamas’s stance” and further delay the release of hostages.
India’s tax cuts. Prime Minister Narendra Modi announced plans to cut consumption taxes in a measure that will cost the government some $20 billion per year, India’s IDFC First Bank estimated. It is the largest tax overhaul since 2017 and comes after Washington hit New Delhi’s products with a 50 percent tariff. The tax cuts are expected to boost the country’s gross domestic product by 0.6 percentage points in a year. Modi also encouraged Indians to buy domestically made products.
Japan’s stablecoin plan. The government plans to issue the country’s first yen-denominated stablecoin, Nikkei reported. Stablecoins are cryptocurrencies with a value pegged to a traditional asset like the U.S. dollar or gold; most are currently dollar-denominated. Individuals and companies will be able to buy and transfer Japan’s coin.
Mali’s reported coup plot. The French government pushed back on Saturday against Mali’s claim that a French embassy staffer had been involved in a coup plot. Malian authorities arrested the staffer and a group of Malian military and civilian personnel on Thursday but provided few details about the alleged plot. The junta has been cracking down on dissent after a pro-democracy rally in May.
Trump on China tariffs. The United States will refrain from raising tariffs on Chinese goods due to China’s oil purchases from Russia, Trump said Friday. He already increased tariffs on India for the same reason but said that in the wake of his Friday meeting with Putin, such a decision for China would not be warranted “right now.”
Myanmar’s planned vote. Multi-phase general elections will begin on December 28, marking the first vote since the military took power in a 2021 coup. The party that won two elections prior to the coup will not be permitted to run. The UN special rapporteur on human rights in Myanmar in June called plans for elections a “mirage of an election exercise.”
U.S.-South Korea drills. The countries began annual defensive military drills today to practice responding to threats including a nuclear-armed North Korea. Pyongyang said the drills would increase regional tensions and pledged to respond to “any provocation.” South Korea’s new President Lee Jae-myung is preparing for a summit with Trump in Washington next week.
